§ 10-152. Distribution of proceeds.

(a)

Each organization licensed to conduct gambling within the city shall contribute to the city, for distribution by the city for lawful purposes, at least ten percent of the organization's net profits derived from lawful gambling. For purposes of this section, net profits are profits less amounts expended for allowable expenses.

(b)

Each organization conducting lawful gambling within the city must expend at least 50 percent of its net profits derived from lawful gambling on lawful purposes conducted or located within the city or any municipality contiguous to the city. The contribution required in subsection (a) above shall be considered as part of the 50 percent expenditure.

(c)

An organization that conducts gambling on fewer than five days in a calendar year is exempt from the requirements of this section.

(Ord. No. 156, § 1, 10-28-91; Ord. No. 371, § 17, 4-12-04)